Rental and Cashflow Property - Management, Strategies and More

There is a 6 unit vacant building right around where I live. The windows are boarded up, graffetii is spray painted on the walls, the place looks like trash. I know if I could take control of this building I could turn things around. I want to make an offer to the seller, but the only problem is that I dont know how to determine the value of incoming producing property if its not producing any income.

I got leed on a house in brooklyn NY. ARV of $600,000.00+. $350,000.00 eq. in it. Owner wants to sell the note and stay in the property.

I am currently going to be managing my properties from out of state, I was wondering if anyone has an idea for me to collect my rent faster than receiving checks by mail?

I have a cash buyer that says his price range is .40 cents on the dollar or little higher.
I wanted to know how can I figured out what the price range will be.

This well managed fernery has a p ositive cash flow of 68,000-78,000K per year over past 6 years. 3 families live in 3 rentals at 1000 per month. They want to stay on working . The very professional land manager wants to continue running the fernery. Very minor upkeep has this producing a nice positive cash flow. In 5 years I believe it could be resold for over 1,000,000.
Call me today with any questions. Stephen Rosenzweig

We just became Landlords last week and need advice on screening people.

Where can we pull credit reports on people?

How much does it cost?

Where can we pull background checks on people?

How much does it cost?

What advice can someone with experience give us?

What are some pitfalls to avoid?

Thanks!!!

Micheala and Ben

Here are a couple of tips for vacant land... I think many people overlook the potential of vacant property and thus, it may be easier to find good deals, motivated sellers, and, frequently, even OWNER CARRY financing.

Location-- is is suitable for a home site?
Topography-- Flat, gentle, steep? How much of each?
Utilities-- what's already there? How far away are the stubs for water, power, sewer, and telephone?
Zoning-- get the zoning from the county so you know what can be put on the property. Is there lot split potential? Is there a neighbor that might be interested in a boundary adjustment?
Path of progress-- is this out in the back woods or are they building a strip mall next year? Your local planning commission meetings a great source for free education.

Any one from the Phila., PA area know a good property management team?

Hi guys!

May I get a poll please?

Subject property:
4 X 2, 1234 sf, plus 2 car garage
Built 1970, good sub division, decent neighborhood, older, a little tough, but generally good.

Comp: not easy, surrounding props are larger, better, nicer. Proper 1 mile radius comps put this one at $65K
A better rehab would bring $77K. I may go back to the seller with an addendum to reduce the price, since it needs a roof.

So I got it at $53,200. not a great spread, but it's rented for $1,000, the tenant wants to stay, and has been there for 9 years!

Here's the question:

Hey guys and gals,

Last year (before I had heard about DG) I rented out my house. My wife and I had a financial rope around our necks and we couldn't afford that place.

Now we are on a better financial situation and need to make some choices, but I want to know how to correctly calculate the cashflow from this property so I can at least know how much it is costing me to own it per month... (yeah, I suspect negative cashflow).

Here is what I got:

Rent Income: $1425/Month

Mortgage payment: $797/Month
Insurance: $107/Month
Property Taxes: $274/Month
HOA: $35/Month
Maintenance/Repairs Reserves: ????
Vacancy Reserves: ?????
Realtor Listing Fees: ????
Anything I Missed: ????